Tax Credit For Hiring Veterans To Become Law

The tax credit for businesses to hire veterans cleared final passage in the House of Representatives. After passing the Senate last week, the measure is now headed to the President’s desk to be signed into law.

At 20.1 %, Montana currently has the 4th highest unemployment rate among Iraq and Afghanistan veterans in the nation. The VOW to Hire Heroes Act that passed today includes a version of Senator Max Baucus’ tax credit for businesses that hire veterans, along with the Hiring Heroes Act, which Baucus co-sponsored along with Senator Jon Tester. The tax cut piece will provide a $5,600 tax credit for hiring long term unemployed veterans, $2,400 for hiring short term unemployed veterans, and credits up to $9,600 for hiring unemployed veterans with service-related disabilities.